Aussie Future Fund Hit by Europe Crisis

At least that logic applies to the 77 billion Australian dollar (US$79 billion) Future Fund, which has learned the hard way as returns slumped to 2.1% over the financial year to June 30, well down from the 12.4% of growth achieved a year earlier.

“During the financial year investment markets were challenging as the situation in Europe and the US, combined with slowing growth in emerging markets, resulted in market corrections,” said Mark Burgess, managing director of the fund in a statement.